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Hovnanian Entrpr announces debt refinancing

Briefing.com

Posted: 2008-05-16 07:32:00

Co announces that it plans to issue an aggregate principal amount of up to $600 mln of 5-year senior secured notes in a private placement. The co also expects to enter into an amendment to its revolving credit agreement which decreases total commitments thereunder to $300 mln, increases the amount of collateral, and substantially eliminates maintenance covenants

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